A compositional statistical analysis of capital stock

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Most of economic literature has presented its analysis under the assumption of homogeneous capital stock.
However, capital composition differs across countries. What has been the pattern of capital composition
associated with World economies? We make an exploratory statistical analysis based on compositional data
transformed by Aitchinson logratio transformations and we use tools for visualizing and measuring statistical
estimators of association among the components. The goal is to detect distinctive patterns in the composition.
As initial findings could be cited that:
1. Sectorial components behaved in a correlated way, building industries on one side and , in a less
clear view, equipment industries on the other.
2. Full sample estimation shows a negative correlation between durable goods component and
other buildings component and between transportation and building industries components.
3. Countries with zeros in some components are mainly low income countries at the bottom of the
income category and behaved in a extreme way distorting main results observed in the full
sample.
4. After removing these extreme cases, conclusions seem not very sensitive to the presence of
another isolated cases
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